Learn Waterhouse, Inc. et al.

On November 1, 2004, the SEC obtained a preliminary injunction and asset freeze against Learn Waterhouse, Inc., Randall T. Treadwell, and others. The SEC alleged the defendants raised at least $24.5 million from 1,700 investors nationwide in connection with the offer and sale of fictitious
“prime bank” instruments. The SEC also alleged the defendants actually operated a
Ponzi scheme, returning $8.2 million or 46.9% of the money raised to investors and misappropriating at least $2.5 million for personal use. For more information about the SEC’s action, you can read Litigation Release Nos.
18932, 18959,
19059, and 19142.

The Court has appointed Stephen J. Donell as successor Receiver. You can find the latest information on the
Receiver's website.